Sawgrass Asset Management LLC Sells 3,215 Shares of McDonald’s Co. (NYSE:MCD)

Sawgrass Asset Management LLC lowered its stake in McDonald’s Co. (NYSE:MCD) by 5.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 53,331 shares of the fast-food giant’s stock after selling 3,215 shares during the quarter. McDonald’s comprises about 1.7% of Sawgrass Asset Management LLC’s holdings, making the stock its 15th biggest position. Sawgrass Asset Management LLC’s holdings in McDonald’s were worth $15,460,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new position in shares of McDonald’s in the third quarter worth approximately $25,000. Comprehensive Financial Planning Inc. PA bought a new position in McDonald’s in the 4th quarter worth $27,000. Collier Financial purchased a new stake in McDonald’s in the 4th quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in McDonald’s during the third quarter valued at about $31,000. Finally, Hara Capital LLC purchased a new position in shares of McDonald’s in the third quarter valued at about $44,000. 70.29% of the stock is owned by hedge funds and other institutional investors.

McDonald’s Price Performance

MCD opened at $307.47 on Thursday. The business’s 50-day moving average is $291.33 and its two-hundred day moving average is $291.97. McDonald’s Co. has a 1 year low of $243.53 and a 1 year high of $317.90. The firm has a market capitalization of $220.34 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 4.08 and a beta of 0.74.

McDonald’s (NYSE:MCD) last posted its earnings results on Monday, February 10th. The fast-food giant reported $2.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.83. McDonald’s had a negative return on equity of 175.42% and a net margin of 31.79%. As a group, sell-side analysts expect that McDonald’s Co. will post 11.73 EPS for the current year.

McDonald’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $7.08 dividend on an annualized basis and a dividend yield of 2.30%. McDonald’s’s payout ratio is 62.16%.

Insider Transactions at McDonald’s

In other news, EVP Desiree Ralls-Morrison sold 3,409 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $290.15, for a total transaction of $989,121.35. Following the sale, the executive vice president now owns 9,675 shares in the company, valued at approximately $2,807,201.25. The trade was a 26.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Marion K. Gross sold 1,499 shares of McDonald’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $290.95, for a total value of $436,134.05. Following the sale, the executive vice president now directly owns 1,560 shares of the company’s stock, valued at $453,882. This trade represents a 49.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,406 shares of company stock worth $2,150,857. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MCD shares. Wells Fargo & Company increased their target price on McDonald’s from $285.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. TD Cowen reaffirmed a “hold” rating and set a $300.00 price objective on shares of McDonald’s in a report on Tuesday, October 29th. Loop Capital reaffirmed a “buy” rating and set a $342.00 price objective on shares of McDonald’s in a report on Friday, January 3rd. Guggenheim lowered shares of McDonald’s from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $285.00 in a report on Wednesday, October 23rd. Finally, Robert W. Baird increased their price objective on shares of McDonald’s from $305.00 to $310.00 and gave the company a “neutral” rating in a report on Tuesday. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, McDonald’s has a consensus rating of “Moderate Buy” and an average target price of $323.61.

McDonald’s Company Profile

McDonald’s Corp. engages in the operation and franchising of restaurants. It operates through the following segments: U.S., International Operated Markets, and International Developmental Licensed Markets and Corporate. The U.S. segment focuses its operations on the United States. The International Operated Markets segment consists of operations and the franchising of restaurants in Australia, Canada, France, Germany, Italy, the Netherlands, Russia, Spain, and the U.K.